We founded Arc with the goal of electrifying the watercraft industry. Over the past nine months, we raised a seed round led by Andreessen Horowitz, brought together an unparalleled team of rocket engineers and boat enthusiasts, built and tested one of the world’s most powerful electric boats from scratch, attracted an all-star lineup of strategic investors, and kicked off production of our limited-edition Arc One.
Today, we’re excited to announce our latest milestone: a $30M Series A fundraising round led by Greg Reichow from Eclipse Ventures, with participation from all of our existing investors — Andreessen Horowitz, Lowercarbon Capital, and Abstract Ventures. Greg will also join Arc’s board.
Prior to joining Eclipse, Greg led much of Tesla’s early manufacturing, supply chain, and automation efforts. His wealth of experience making the difficult transition from R&D to full-scale production will help Arc accelerate its production ramp over the coming year. We’re thrilled to welcome him and the rest of the team at Eclipse aboard.
Raising a Series A so quickly after founding the company is a testament to the strength of Arc’s team and the momentum we've built towards electrifying the marine industry. But anyone can lay out an ambitious roadmap; the hard part is executing on it. In the near term, that means staying focused on delivering the Arc One. We’ll have more to share about where we’re heading from there soon, but suffice to say that we have no intention of slowing down.